"Our recent share repurchases and today's authorization reflect our continued confidence in our strategy, financial strength and long-term opportunity to drive sustainable profitable growth over time. We believe this is an opportune time to leverage our strong cash position to return capital to shareholders while continuing to invest in growing our housing super app."
"Between Jan. 1 and March 4, Zillow repurchased 3.8 million shares of Class A common stock at a weighted average price of $47.84 per share and 9.7 million shares of Class C capital stock at a weighted average price of $45.92 per share, totaling $626 million."
"Since 2021, Zillow has repurchased about $3.3 billion worth of stock at a weighted average price of $49 per share totaling 66.7 million shares. The company has also repurchased $146 million in aggregate principal amount of convertible senior notes under its existing repurchase authorizations."
Zillow Group's board approved a $1.25 billion expansion of its share repurchase authorization for both Class A and Class C stock. As of March 4, the company had $1.3 billion remaining under the program. In the first quarter through March 4, Zillow repurchased 3.8 million Class A shares at $47.84 per share and 9.7 million Class C shares at $45.92 per share, totaling $626 million. Since 2021, Zillow has repurchased approximately $3.3 billion in stock at a weighted average price of $49 per share, representing 66.7 million shares. The company also repurchased $146 million in convertible senior notes. Management stated the repurchases demonstrate confidence in the company's strategy, financial position, and long-term growth prospects while continuing to invest in its housing platform.
Read at www.housingwire.com
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